Actuant Corp., Milwaukee, WI, reported sales for its fourth quarter ended Aug. 31, 2008, improved 4% to $405 million in a year-over-year comparison. Profit was $32.4 million, an increase of 8.9%.
Sales for the fiscal year were up 14% over the prior fiscal year to $1.66 billion. The company reported profit for the year was $122.5 million, up 16.7%.
Industrial segment sales increased 29% to $159 million for the fourth quarter. Core sales grew 14% driven by continued strong global demand for joint integrity products and services for the oil and gas and power generation markets.
Fourth-quarter Electrical segment sales declined 15% to $112 million. Core sales declined 19% reflecting weaker demand from consumer, marine and transformer customers.
Actuation Systems segment sales were $100 million, a decrease of 4% over the same period the prior year. Core sales declined 11% as consumer demand for RV products dropped more than 50%.
Engineered Products segment fourth quarter sales increased 12% to $33.6 million. Core growth accounted for 9% reflecting increases across all businesses within the segment.
Actuant is a diversified industrial company with operations in more than 30 countries.